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Excise
chapter tables |
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Taxation
statistics - whole document |
Excise duty is levied on
certain goods manufactured or produced in
·
petroleum
products and non-petroleum based fuels
·
tobacco
products
·
alcohol
products (excluding wine which is subject to the wine equalisation tax).
Excise duty is levied on
onshore stabilised crude petroleum oil and condensate production, and offshore
stabilised crude petroleum oil and condensate production from fields within the
North West Shelf Project area. Crude oil and condensate from offshore areas
located outside the North West Shelf Project area are subject to petroleum
resource rent tax.
Excise duty on stabilised
crude petroleum oil and condensate is linked to the sale price of the product.
The excise liability is calculated based on the volume weighted average
realised (VOLWARE) price, the marginal excise rates applied to progressive
production and the quantity produced.
Excise duties applied to
tobacco and alcohol are subject to indexation in February and August each year,
in line with upward movements in the consumer price index. Indexation is not
applied to petroleum products, non-petroleum based fuels or oils and greases.
For the purpose of this
publication, excise revenue is recorded when the products are delivered for
home consumption. The time difference between liabilities raised and the
receipt of payment for most excisable products is up to one week. For
stabilised crude oil and condensate, payment is made on or before the last
working day of the month following the month in which it was sold.
OVERVIEW
For the 2010-11
financial year:
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